Definition of Funding Sources
Airport Revenue
The Airport makes revenue from a variety sources, including:
Read more about the airport business structure by clicking here.
Passenger Facility Charge
Here’s how passenger facility charges (PFCs) work: the PFC program is overseen by the Federal Aviation Administration (FAA). It allows airports to charge passengers getting on a plane a fee for using the airport. The money collected is then used to fund FAA approved projects. The current PFC is $4.50.
Read more about PFCs on the Federal Aviation Administration web site.
Airport Inprovement Program
The Airport Improvement Program (AIP) is a federal program administered by the Federal Aviation Administration (FAA).
AIP provides funding for planning and development at public airports.
Read more about AIP by clicking here.
The Airport borrowed $97 million to pay for the new terminal. Funding for the debt service comes from airport revenue, passenger facility charges, and annual Airport Improvement Program funds.
The debt service plan is extremely conservative—it strives to make annual payments that are 1.5 times the amount required. Even if passenger numbers drop 15 percent for 12 consecutive months, debt service can be maintained at 1.25 times.
